United Kingdom BBA Mortgage Approvals rises to 31.2K in Mar from 30.5K in Feb
Apr 24, 2013
Commodities Brief – Silver tests 23.00 level, crude oil moves towards 90.00 on OPEC concerns
The price of gold mounted an early advance during European trading, however the USD firmness, and equity strength continued to cap any movement higher. Indeed, the yellow metal has surrendered some of its gains in recent minutes after peaking at the 1430 level. In these moments the price of gold is trading at USD $1423.70 per oz. Gold maintains the structure of the bullish correctional wave, as price rebounded and attempting to settle above 1428.00 resistance, invalidating a previous bearish outlook. Patience in the retest of the 1428 level could lend credence to a rise higher.
The GBP/JPY has traded unevenly Wednesday, having pivoted back and forth across European trading, whilst generally resuming an upward trend overall. Following the release of economic data in the United Kingdom, the cross has remained positive, operating at 151.76/83.